Praetura Commercial Finance Group supports recruitment firm with a £10m finance facility.

The Challenge

Northern based recruitment firm seeking refinance with Praetura Commercial Finance tasked to turn around a new facility in a timely manner.

The Solution

The client was able to meet with Praetura Commercial Finance senior management from the outset, resulting in a very prompt turnaround of a sizeable CID line. By working with colleagues at Kingsway Finance, an RLS Commercial Loan could be offered, in addition to CID, to provide liquidity to the client. This ensured the client had the correct levels of support to facilitate works for new and existing customers.

Through our flexible approach and ability to promptly provide a solution, we were able to meet the client’s requirements and provide a support package in a timescale that simply not have been achievable on the high street.

The Transformation

An increased funding line to enable an established business to continue their year on year growth. An RLS loan ensured the business had the correct cashflow for their peak summer trading period.

Dick Appleby, Factoring Finance commented: “Great result in getting this deal over the line and having dealt with you on multiple facilities now, the one thing I can say (noting a £10m funding line) is that your underwriting process was very impressive – the best thing being the speed at which you operated at plus the overall appetite Praetura have is fantastic. Thanks to Dan Topham, Stuart Bates and Lisa Woods – a great effort all round.”

Dan Topham, Sales Director, said: “We were delighted to work with this established and successful business to provide a facility tailored to their business requirements. We were pleased to be able to offer a bespoke package in collaboration with Kingsway Finance which will ensure the client has the liquidity for growth. We look forward to continuing to support the business.”